“There’s less people working in our city, there’s less people paying taxes [and] contributing to our economy,” Guérette said.

Building permits are generally regarded as an indicator of economic growth, as permits are needed for any new residential or commercial construction.

From July to August, the value of Saskatchewan building permits jumped by 15.3 per cent, more than double the 6.1 per cent seen Canada-wide. Nationally, Canadian municipalities issued $9 billion of building permits in August.

Guérette said it’s not possible to draw a clear storyline from gains this summer, using the example of a 21 per cent decrease in permit values for Saskatoon and region single-family homes in 2019.

In the last two years, the industry has been “cracking underneath” government policies including the mortgage stress test and PST on construction contracts, Guérette said. The current Crown corporation strike is also a factor, according to the SRHBA CEO.

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